iPhone App that made $20k in a Week – Unit Conversion $0.99 App

For developers and for Companies interested in developing iPhone apps, it’s a good news. In the first two weeks the iPhone Unit conversion app has been downloaded around 40,000 times.

Since the price of the application is $0.99, it turns out the app has pulled at least $39,600 so far, or just under 3,000 dollars per day, and it’s still growing. It reached the #2 top paid app spot in the US App Store, jumping from about a 1,000 downloads on 13th of August to over 6,000 daily downloads on August 25th.

Of course, not all of the money goes to the developer, tap tap tap. Because of the 70/30 revenue split with Apple, the developer actually earned around 27,720 dollars in the first two weeks. Still, very impressive for a one dollar app.

John Casasanta, the developer behind Convert, is no stranger to making money in the App Store; he has posted some impressive numbers before for a GPS-based app called Where To? which directs you to the nearest points of interest. Convert, however, is a very general, all-purpose application that, unlike Where To?, might stay in the top 10 for quite a while. If it manages to keep growing, or at least retain its current download rate, Convert might be one of the biggest moneymakers in App Store history.

When it comes to the App Store as a whole, it’s become a serious business. Today’s numbers from AdMob’s report (PDF) suggest the App Store market size is $200 million per month, or $2.4 billion per year, and those numbers are nothing to be laughed at.